1. Explain how the following were determined:

a. Interest rate

b. High yield

c. Allotted at high

d. Price

e. Accrued interest per $1000

TREASURY NEWS Department of the Treasury Bareau of the Fiscal Service For Immediate Release June 08, 2016 CONTACT: Treasury Securities Services 202-504-3550 TREASURY AUCTION RESULTS 9-Year 11-Month Note 912828R36 C-2026 Term and Type of Security CUSIP Number Series Interest Rate High Yield Allotted at High Price Accrued Interest per $1,000 1-5/8% 1.702% 11.21% 99.299186 $1.36889 Modian Yield Low Yield 1.660% 1.595% Issue Date Maturity Date Original Issue Date Dated Date June 15, 2016 May 15, 2026 May 16, 2016 May 15, 2016 Tendered Accepted $54,007,440,000 $12,054,100 S0 $54,019,494,100 $19,987,961,500 $12,054,100 S0 FIMA (Noncompetitive) S20,000,015,600 Subtotal SOMA Total so $o $54,019,494,100 $20,000,015,600 Tendered Primary Dealer Direct Bidder Indirect Bidder Total Competitive $35,130,900,000 $2,300,000,000 $16,576,540,000 $54,007,440,000 Accepted $3,840,695,300 $1,430,000,000 $14,717.266,000 $19,987,961,500 All tenders at lower yields were accepted in full i50% of mutt ofaccepted competitive laden was tendered at blow that yield ay% ofthe men ofaccepted compettive smden was tendered aabelow that yield tidoCover Rale SS4,019,494. 10053000001 SA00-170 Awards to TreavaryDiroct 58,628,100 Primacy deaiers as sabeiters bidding for tdeir own house accounts Nion Primary dealer subenitlens bidding for their own house aocounts Cetomes pleing competitive bids through a direct sabmiter, inclading Forcign nv York and Intermational M tonetary Authonisies placing bids through the Federal Reserve